Regulators invited Binance to seek new licenses after MiCA setback, co-CEO says
Binance is exploring new licensing paths into Europe while continuing to expand its regulatory footprint in Asia, says co-CEO Richard Teng....
Key takeaways
- 1Binance withdrew its MiCA license application in Greece on June 24 after regulators signaled rejection despite submitting a compliant application.
- 270% of EU users who withdrew funds from Binance moved assets to self-hosted wallets, only 30% to MiCA-regulated exchanges.
- 3Binance is expanding across Asia including Japan, Korea, Thailand, Indonesia, Australia, and Philippines through partnerships.
Why it matters
Binance's MiCA exit signals regulatory friction in Europe while Asian expansion continues, indicating the exchange is shifting focus to less restrictive jurisdictions. For Indian investors, this reflects global crypto market consolidation and the importance of regulatory clarity—India's own crypto policy decisions could determine whether exchanges choose to operate locally.
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